Honorary Doctoral Degree to Deirdre McCloskey

Universidad Francisco Marroquín awarded an Honorary Doctoral Degree in Social Sciences to Deirdre N. McCloskey as an acknowledgement for her efforts on conveying and disseminating the message on free markets. She first shares how, in her early years, she was a Marxist, and as her knowledge on economics furthered on, she understood that the rich modern world did not become wealthy trough protectionism, regulation, central planning or socialism. The wealth of societies relies on the strength of free people to innovate. McCloskey states that the most important element to achieve progress lies in a change in ethics, ideologies, and attitudes toward markets and innovation. She also introduces the word "humanomics" which, as she explains, is the combination of science and humanities in full view of economics. Deirdre N. McCloskey was also awarded a diploma that accredits her as an honorary professor at UFM for her work on the research of economic theory, philosophy and social history of economics.